Amphion Innovations PLC (LON:AMP) has put its stake in Polarean Imaging Plc up as additional security for a loan.
The developer of medical, life science, and technology businesses said the loan amount under the facility with the company's debt provider continues to be also secured by the company's recently reduced stake in Motif Bio.
READ: Amphion Innovations sells further batch of shares in partner Motif Bio
Amphion currently holds 18,779,611 ordinary shares of Motif, representing 5.5% of the issued share capital, and 18,372,523 shares of Polarean.
The outstanding loan amount is roughly US$3.65mln and is repayable on 30 September of this year.
Under the amended terms of the loan facility, the interest rate will remain at 10% per annum; the lender will also receive 15% of the future appreciation on 10mln of Amphion's holding in Motif, above 10 pence, and will also participate in 15% of the appreciation of 10mln Polarean shares held by the Amphion, above 18 pence.
